Which option represents a quantitative forecasting method?

• A. Delphi method
• B. Time series analysis
• C. Market research
• D. Panel consensus

Answer: (B)

This question tests your ability to distinguish a quantitative forecasting method from qualitative ones. Time series analysis is a quantitative approach because it uses numerical data and statistical models to forecast future values. It looks at past data points to identify patterns like trend, seasonality, and random variation, then applies mathematical techniques to project those patterns forward. This yields numeric forecasts and allows assessment of forecast accuracy.

The other methods rely on expert judgment, opinions, or consumer insights rather than numerical data, so they’re considered qualitative (often used for input or scenario planning rather than purely quantitative forecasts). Therefore, time series analysis is the quantitative forecasting method.